Updated Duplex with Two
247-249 Freedom Ln, Delaware, OH 43015
For Sale
$379,900
Pending
Occupied two-unit property with refreshed exterior features and flexible owner-occupant or rental use.
Property Size2,520 SF
Days on Market50
Property Features for 247-249 Freedom Ln
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Parking per Unit
Building Details
Year Built
Listing Agency:
Cheryl Morgan, Heart & Homepropertymanagement
Listed By:
Rhiannon Ferrari · License #2009003178
(614) 226-1039
Source:
Ferrarihomegroup
Added: Sep 19
Changed: Nov 6
Last Checked: Nov 6 at 8:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cheryl Morgan, Heart & Homepropertymanagement
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Delaware duplex contains 2,520 square feet across two 3-bedroom, 1.5-bath units, each with a one-car garage. Built in 1992, the property has received new siding, a new roof, and updates to some windows. Both units are occupied. The left side includes a renovated kitchen with white cabinetry and newer appliances, refreshed bathrooms, and LVP flooring. Its hot water tank was replaced in 2023. The right unit offers a fenced yard area and has long-term tenants.
Located at 247-249 Freedom Ln, the property provides access to local shopping, dining, parks, schools, and everyday services in Delaware. The two-unit layout supports continued rental use or an owner-occupant arrangement with a separate occupied unit.
Located at 247-249 Freedom Ln, the property provides access to local shopping, dining, parks, schools, and everyday services in Delaware. The two-unit layout supports continued rental use or an owner-occupant arrangement with a separate occupied unit.
Key Highlights
- 2,520‑square‑foot duplex with two 3‑bedroom, 1.5‑bath units
- Each unit includes a one‑car garage
- New siding and roof, plus updates to some windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,913
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$438,260
$438.3K
Cap Rate 7%
$313,043
$313.0K
Cap Rate 9%
$243,478
$243.5K
Market Conditions
NOI Build-Up for 2,520 SF
Gross rent
$36.0K $14.28/SF
− Vacancy
−$4.7K −$1.86/SF
EGI
$31.3K $12.42/SF
− OpEx
−$9.4K −$3.73/SF
NOI
$21.9K $8.70/SF
Area
Delaware County, OH
Vacancy
13.01%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$438,260
Cap Rate 7%
$313,043
Cap Rate 9%
$243,478
Alternative Uses
Best Use
Multifamily LT 5
$313.0K
$273.9K – $365.2K
NOI $21,913 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$287.1K
$251.2K – $334.9K
NOI $20,095 @ 7.0% cap · market cap 5.29%
Theoretical Best
Warehouse
$507.9K
$444.4K – $592.6K
NOI $35,554 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 43015, OH
57,563
Population
23,287
Households
2.5
Avg Household Size
38
Median Age
47%
College-Educated
96%
High-School Grad
127.9 sq mi
ZIP Area
450
Density / Sq Mi
$99,622
Median Household Income
$50,799
Median Earnings
$1,207
Median Rent
$311,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Occupied two-unit property with refreshed exterior features and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 247-249 Freedom Ln Delaware, OH.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 2,520‑square‑foot duplex with two 3‑bedroom, 1.5‑bath units; Each unit includes a one‑car garage; New siding and roof, plus updates to some windows
